The benchmark crude WTI gained 1.7% to settle at $78.47 per barrel in today’s session. Natural gas, on the other hand, cratered by 7.3% to close at $2.396.
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Traders continue to assess the impact of the earthquake in Turkey on global oil supply, with the key Ceyhan terminal at stake. In the meantime, Oil has managed to rise nearly 7% from its Feb 6 low this week.
Further, Saudi Arabia increasing prices for shipments headed to Asia indicate positive sentiment from an expected uptick in demand from China.
The Energy Select Sector SPDR ETF (XLE) down today, as it is up 1.39% so far this year. Here is a list of energy stocks that can be influenced by the latest developments in the energy markets.
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